Tax Accounting & Finance

R&D Tax Credits: Encouraging Innovation Research and development tax credits are a government incentive designed to stimulate R&D activities across various industries. By offering tax breaks to businesses engaged in qualifying R&D projects, governments aim to foster innovation, enhance competitiveness, and drive economic growth. As of 2023, several countries have made noteworthy updates to their R&D tax credit programs: Expansion of Eligibility Criteria: Many jurisdictions have expanded the definition of eligible R&D activities to encompass a broader range of industries and technological advancements. This includes areas such as software development, clean energy technologies, and biotechnology. [...]

Accountants frequently encounter several ethical dilemmas that are commonly observed. Explore the intricate ethical balancing act accountants undertake through our informative infographic. Interested in learning more? Join our webinar: Responding to Ethical Dilemmas in the Accounting Profession LIVE Webcast Upcoming Webcasts Upcoming Webcasts back

Ethical dilemmas are an everyday reality for those in the accounting industry. In this article, we'll shed light on the ethical pitfalls that accounting professionals encounter in their daily lives. Let's get started! Conflicts of Interest Trust is crucial for accountants, just as it is in our personal relationships. Because of this, others may assume that it's harmless to rely on their accountant friends for financial help, but that's not entirely accurate. Conflicts of interest arise when personal or financial relationships intersect with accountants’ professional obligations. These situations can compromise one’s objectivity and impartiality. To [...]

Here's a quick guide to hedge funds! Learn about their unique strategies, risks, and rewards in this informative infographic. Come and join our webinar: ABCs of Hedge Fund and Private Equity Fund Formation Upcoming Webcasts Upcoming Webcasts back

In this infographic, we will delve into the various benefits of tax automation, including increased accuracy, reduced costs, and scalability! Check out The Knowledge Group’s webinar “Transforming Businesses with Tax Automation: Effective Tools and Best Practices,” Want to solve tax for good? Get in touch with Sovos Upcoming Webcasts Upcoming Webcasts back

In today's fast-paced business landscape, companies are constantly adapting to stay ahead of the competition. Recent years have witnessed a significant increase in the adoption of automation —a game-changing solution that has transformed the way businesses operate. This shift has transformed many industries, including the tax sector, and has enabled businesses to streamline processes and achieve greater efficiency. Let’s explore the benefits of tax automation and discover best practices that can help businesses transform their compliance processes. To start with, let us define tax automation. What is Tax Automation? Tax automation refers to the use [...]

Junk fees can show up in various products and services. But the more one knows about how they may be at risk, the easier it is to avoid it. Here’s an infographic of some of the common types of junk fees that you should know. Join our webinar: Regulatory Trends to Watch Out for in Consumer Finance Upcoming Webcasts Upcoming Webcasts back

Today, the high cost of junk fees imposed by some companies is hitting the most vulnerable consumers to the core. While these unnecessary fees offer no benefits to consumers other than adding costs to their bills, they eclipse the actual cost of a product or a service. This article will discuss the common types of junk fees and how we can detect them. What is a Junk Fee? A junk fee is a surprise cost charged to a consumer's bill after signing up for a product or service. Also called hidden fees, they are usually [...]

Accountants play a critical role in business as they have access to intimate financial information. However, some have failed to value the importance of ethics and compliance. Here's an infographic of why you should ensure to practice ethical standards in your accounting profession. Join our webinar: Understanding Ethics in the Accounting Profession: A Comprehensive Guide Upcoming Webcasts Upcoming Webcasts back

Accountants are professionals; hence, they are expected to act like one. They’re the key personnel who can access the intimate financial information of individuals and businesses. With such a crucial responsibility, they must abide by the rules and values in the accounting profession known as ethics. According to Oprah Winfrey, “Real integrity is doing the right thing, knowing that nobody's going to know whether you did it or not.” It takes a lot to be honest and sustain integrity in the face of many temptations. For this reason, not all accountants can stay true to their [...]

The current state of the market across industries reflects in the way companies adapt and respond to changes impacting a wider aspect of better financial service. These changes are tied up with expanded economic transitions that are taking place today after the hard shocks from the Covid-19 pandemic hit us. On the compliance front, most businesses are gearing up to meet compliance requirements within a specified timeframe. In particular, accounting challenges in the leasing sector include achieving compliance in the wake of new accounting standards: Financial Accounting Standards Board (FASB), ASC 842, and International Accounting Standards [...]

With the introduction of new lease accounting standards, lease management has become essential for companies to foster growth and maintain compliance. In this infographic, explore 5 steps on how your organization can leverage leases to make strategic decisions! Check out our upcoming webcast: Trends, Challenges, and Opportunities in Commercial Real Estate Finance  For more information on how to unlock value from your lease portfolio, contact Visual Lease. Upcoming Webcasts Upcoming Webcasts back

With the ever-changing regulatory landscape impacting corporate tax compliance processes, more and more organizations are starting to understand that being tech-savvy, data-driven, and predictive is the need of the hour. Specifically, heightened regulatory changes pose greater exposure to noncompliance risks, leaving increased pressure on tax teams to keep pace. Automating your tax processes could help mitigate risks and alleviate the burdens of your team. Besides creating a smoother and faster process, automation also improves quality. Here's more of what tax automation can offer: Better Control – tax automation eliminates manual recording and compilation, thus helping drive [...]

How can sales tax solutions keep your business moving forward? Find out in this infographic! Join our upcoming webinar: Transforming Businesses with Tax Automation: Effective Tools and Best Practices Solve Tax for Good® Everywhere You Do Business Get in touch with Sovos Upcoming Webcasts Upcoming Webcasts back